What Are NFTs?
What People Think NFTs Are
When most people think of NFTs, they think of digital art. If you look up “NFT”, most of what you’ll find is pictures of weird looking animals like fat penguins, cute aliens, and bored apes, though you may new zealand whatsapp number data see some pixel art and squiggly colored lines.
Beauty is in the eye of the beholder, right?
The “NFTs are digital art” narrative really took off, and a lot of buyers of NFTs look at their purchase as a kind of investment, either trade, or to hold long term. Famous art is worth a lot, right, so famous digital art must be worth a lot too!
In reality, what NFTs actually are is a little more nuanced than that.
What NFTs Actually Are
More specifically, NFTs are a hash of a URL, and you can prove ownership of that specific hash through your crypto wallet. What that means is that NFTs are not actually digital art. NFTs are better understood as a digital receipt, or a digital certificate of authenticity.
NFTs to do not give you ownership of a piece of art. They do not prevent others from viewing, distributing, or modifying your art. They do not give ownership of the image itself, and do not even give you copyright over the image.